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Top 10 Shale Oil Rich Nations - 6 - VENEZUELA

Contributor: Tim Haïdar, EIC
Posted: 07/07/2013
Tim Haidar
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6) Venezuela

common troupial
Common Troupial


Technically recoverable shale oil
: 13 billion barrels
Prime prospect locations: Orinoco Heavy Oil Belt
Current oil production (bpd): 2.49 million
Current gas production (tcf): 0.88

According to the Organization of Petroleum Exporting Countries (OPEC), the Bolivarian Republic of Venezuela holds some 297.5 billion barrels of conventional oil and 197 tcf (5.58 trillion cubic metres) of non-associated natural gas.

The Orinoco Heavy Oil Belt, the world’s single-largest crude oil reserve, extends over an area of 55,000 km², to the south of the states of Guârico, Anzoâtegui, Monagas, and Delta Amacuro. The Belt is home to the Orinoco Oil Sands, second only in size to Canada’s Athabasca oil sands.

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Tim Haidar
Contributor: Tim Haïdar, EIC